China and the Eurasian Economic Union (EAEU) should conclude a free trade area agreement as soon as possible to deepen cooperation, Chinese Ambassador in Moscow Li Hui said on Monday.

"There is a need to promote negotiations on creation of free trade areas, constantly boost presence in each other’s markets. Global development is now based on cooperation in the field of free trade and increasing the level of regional cooperation, so we should take this trend into account and not delay talks on free trade areas establishment. We should sign the agreement on free trade areas as soon as possible and increase level of cooperation," Li told reporters.

The ambassador noted that China-EAEU cooperation progress was currently short of expectations and there was a huge room for expanding the interaction.

Earlier in April, Minister for Trade of the Eurasian Economic Commission, the executive body of the EAEU, Veronika Nikishina told Sputnik that the union member states were not ready to create a free trade area with China. The minister explained that the economy of the EAEU member states was extremely heterogeneous, and there was a need to assess the benefits and risks for every member state.

17-May-2019PIANGO

Despite the failures of the EPA to deliver real development to Pacific countries it looks as though the European Union will once again, through the Post Cotonou Agreement, push for enhanced and undistorted access for European investments to Pacific resources.

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